Social Security in the 1930s was trivial as a recovery policy—a very small number of people collected very small amounts, mostly symbolic—but it was significant as a reform policy designed to make future downturns less severe, only later growing into a major program.

factualpending

Speaker

Eric Rauchway

Evidence Quote

it's not important as a recovery policy. It's important as a reform policy. The idea is that you're going to prevent further downturns from being as severe.

Source

Eric Rauchway on the Great Depression and the New Deal 12/01/2008EconTalk
Created: 6/17/2026, 10:09:28 AM

My Notes

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